Oil Set for First Weekly Drop Since April on Second-Wave Fears
Oil is heading for the first weekly loss since late April in New York on fears a second wave of U.S. infections could derail a fragile recovery. The market has shrugged Continue Reading
Oil falls, rally ends as U.S. sees resurgence of coronavirus infections
Oil prices fell on Friday, extending big losses from overnight as U.S. coronavirus cases surged this week and raised the prospect of a second wave of the COVID-19 outbreak hitting Continue Reading
Oil demand recovery under spotlight as lockdowns ease
Optimism over a swift and steady economic rebound from crushing pandemic lockdowns have helped global oil prices stage a dizzying rebound from near two-decade lows in April. Receive daily email Continue Reading
Oil Dives the Most in Six Weeks, Exposing a Fragile Recovery
Oil fell the most since late April as economic uneasiness iced U.S. stock markets, threatening to spoil crude’s recovery from a historic drop below zero. The market is grappling with record high U.S. Continue Reading
Oil Plummets With Economic Jitters Surging Through Markets
Oil fell the most since late April as economic uneasiness iced U.S. stock markets, threatening to spoil crude’s recovery from a historic drop below zero. The market is grappling with record high U.S. Continue Reading
Scrub that: Pandemic forces ship owners to shelve anti-pollution gear
Ship owners are postponing or canceling the installation of “scrubbers” that extract harmful sulfur emissions from their vessels as the coronavirus pandemic tightens finances. Regulations from the United Nations agency Continue Reading
Monthly OPEC decisions not good for the market: Oman oil minister
Deciding the OPEC+ oil production cuts on a monthly basis during the oil price and COVID-19 crises undermines market stability, Oman’s oil minister Mohammed Al-Rumhy has told S&P Global Platts. Continue Reading
OPEC+ monthly talks plan meets resistance with OSP timing a concern: sources
Several delegates within the OPEC+ alliance have voiced concerns over plans for the group to meet monthly to assess production levels, casting doubt on a cornerstone of its strategy to Continue Reading
Turkey’s Latest Pipeline Plan Is A Move To Restore Relations With U.S
Turkey’s state gas grid operator Bota? has opened a tender for a gas pipeline to supply Azerbaijan’s exclave of Nakhchivan. The new supply route would sideline Iranian gas sales to Continue Reading
Oman Is Desperate For Help As Economy Crumbles
Non-OPEC oil producer Oman has been talking to other countries in the Gulf about potentially receiving financial aid to help its economy and fiscal position which are hit by the Continue Reading